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Business Insider
a day ago
- Politics
- Business Insider
Trump's deportation plans get a lifeline from Africa's youngest nation, but with conditions
Since returning to office in 2025, U.S. President Donald Trump has intensified efforts to expedite the deportation of undocumented migrants, reigniting diplomatic negotiations with countries across the Global South, including South Sudan, to facilitate repatriation agreements. South Sudan has offered to accept US deportees, linked to demands including visa policy changes and economic measures. The Trump administration is yet to respond to South Sudan's set of demands in facilitating migration discussions. The U.S. has implemented third-country deportations, sending migrants to nations without prior ties, receiving criticism for this policy. One of the latest developments involves South Sudan—Africa's youngest nation—which has expressed a conditional willingness to accept deportees from the United States. According to diplomatic sources cited by Politico, South Sudan has informed the Trump administration that it would consider taking in more migrants if several demands are met. These include the lifting of sweeping U.S. visa revocations against South Sudanese citizen imposed in April by Secretary of State Marco Rubio, the reactivation of a frozen South Sudanese bank account at the Federal Reserve Bank of New York, and U.S. backing for Juba's efforts to prosecute First Vice President Riek Machar, currently under house arrest. The Trump administration has not yet agreed to any of the requests. 'South Sudan will continue to be an ally of the United States, support the policies of the United States, and especially the policies of the current president, His Excellency President Donald Trump, ' said Santino Dicken, South Sudan's ambassador to Washington, in an interview. 'But we also hope our partners in the administration understand that, for the government of South Sudan to freely convince its citizens [about deportation], we are asking the U.S. administration to lift visa restrictions on South Sudanese passport holders. ' Meanwhile, analysts note that South Sudan faces an uphill task in mending ties with Washington, following years of strained relations fueled by civil conflict, authoritarian backsliding, and widespread human rights abuses. United states' third country deportations The United States has intensified its use of third-country deportations, sending migrants not to their countries of origin but to nations with which they have no prior ties. Africa has become a key testing ground, with Washington striking opaque bilateral deals. The policy drew sharp criticism when five inmates—labeled 'dangerous' by U.S. officials were deported to Eswatini after their home countries refused to accept them according to a statement by Department of Homeland Security spokeswoman Tricia McLaughlin. Eswatini however, claimed the men were only in transit and would be returned to their countries once documentation was arranged. Although many Americans support tougher immigration enforcement, a recent poll found that 58 percent oppose deportations to countries where migrants could face danger or have not received proper hearings. Legal experts and human rights advocates warn the practice may violate U.S. due process and international law. Nigeria, among the countries the U.S. has pressured, has pushed back.
Canada News.Net
24-07-2025
- Business
- Canada News.Net
NY Fed: Easier mortgage, auto loan approvals in June
NEW YORK CITY, New York: U.S. consumers found it easier to secure auto loans and refinance mortgages in June, according to new data from the Federal Reserve Bank of New York, signaling an improvement in credit access amid persistently high interest rates. The bank reported this week that the rejection rate for mortgage refinancing dropped significantly to 15 percent in June—down from a peak of 42 percent in February. That February figure marked the worst on record since the data series began in late 2013. Access to auto loans also improved. Rejection rates fell to seven percent in June, from 14 percent in February. Overall, the New York Fed said credit applications and rejections have remained relatively stable over the past year, even as borrowing costs stayed elevated due to the Federal Reserve's restrictive monetary policy. The data comes from the bank's Survey of Consumer Expectations, best known for tracking monthly inflation expectations and consumer sentiment. One closely watched subset of the data — discouraged borrowers — also showed improvement. The share of people who held back from applying for credit because they feared rejection fell to 7.2 percent in June, from 8.5 percent in February. However, this figure remains higher than the 5.5 percent reported in June 2024. Respondents also reported a higher perceived likelihood of facing a sudden US$2,000 expense — though expectations about their ability to cover such costs also increased. While other New York Fed reports have shown signs of mounting stress in consumer debt levels, overall credit conditions remain relatively healthy. Still, both the auto and housing sectors continue to feel the weight of high interest rates as the central bank maintains its fight against inflation.
Time of India
17-07-2025
- Business
- Time of India
Degrees at risk: 10 US college majors with the highest unemployment rate in 2025
10 US college majors with the highest unemployment rate in 2025 Choosing the right college major is one of the most important—and stressful—decisions young students face. While passion and interest should always play a role, new research from the Federal Reserve Bank of New York warns that not all degrees are equal when it comes to job opportunities. As of mid-2025, unemployment among recent US college graduates (ages 22–27) averaged 5.8%. But for certain majors, that number is significantly higher, raising questions for students, parents, and education advisors alike. 10 college majors with highest unemployment rates According to the Federal Reserve's latest labor market analysis, here are the top 10 majors with the highest unemployment rates in the US job market today: Rank Major Unemployment Rate 1 Anthropology 9.4% 2 Physics 7.8% 3 Computer Engineering 7.5% 4 Commercial Art & Graphic Design 7.2% 5 Fine Arts 7.0% 6 Sociology 6.7% 7 Computer Science 6.1% 8 Chemistry 6.1% 9 Information Systems & Management 5.6% 10 Public Policy and Law 5.5% Highest on the list: Anthropology, with a staggering 9.4% unemployment rate, compared to the 5.8% national average for degree-holders. Why are these majors more vulnerable? While the reasons vary across fields, a few common threads explain the trend: 1. Limited job openings in niche fields Degrees like anthropology, sociology, and fine arts often funnel into sectors with fewer entry-level roles or require advanced degrees to unlock career growth. 2. Oversupply of graduates in tech and science It might be surprising to see computer engineering, physics, and chemistry on the list. These are high-demand fields—but in some areas, the number of graduates is temporarily outpacing job openings, especially without practical experience or specialisation. 3. Skills gaps despite academic credentials Employers today look for more than just a degree. Internships, certifications, project work, and communication skills increasingly determine employability, particularly in tech-heavy or creative industries. What this means for students planning to study in the US Many Indian students head to the US for degrees in computer science, engineering, or policy-related majors. While these can still lead to lucrative careers, this report is a reminder that degree choice alone does not guarantee success. For students aiming to study in the US: Research not just median salaries, but also placement rates and early career unemployment. Seek colleges that offer strong co-op programs, internships, and career services. Consider combining your degree with marketable minors (e.g., data analytics, business, or design thinking). When risky majors still pay off It's important to note: a high unemployment rate doesn't always equal low income. Majors like computer engineering and computer science may see short-term job struggles but are also linked to high median salaries and long-term growth. This means students should also look at earning potential over a 10-year window, not just initial job security. In the age of rising tuition and competitive job markets, data like this serves as a valuable guide, not a deterrent. Students should feel empowered to ask tough questions about employability, industry trends, and the evolving expectations of employers. Choosing a major is not just about what excites you—it's also about what sustains you. And being informed is the first step toward a career that's both meaningful and stable. Ready to navigate global policies? Secure your overseas future. Get expert guidance now!
CNBC
15-07-2025
- Business
- CNBC
7 in 10 Americans are anxious about money—and earning more won't necessarily help, says therapist
Americans are feeling increasingly uneasy about their financial future. Nearly 7 in 10 (69%) say financial uncertainty has led them to feelings of anxiety and depression, according to a recent survey from Northwest Mutual — an 8-percentage-point increase from 2023. It's tempting to point to large-scale financial trends to help explain the uptick. Americans hold near-record levels of credit card debt, for instance, amounting to $1.18 trillion, according to data from the Federal Reserve Bank of New York. And consumers are still trying to gauge how shifting U.S. tariff policies could ultimately affect the rising cost of goods and services. While those factors may explain why some people are feeling stressed about money, they don't get to the heart of financial anxiety, says Megan McCoy, a financial therapist and professor at Kansas State University. Financial stress, she says, is a response to a concrete event. You need new tires and don't have enough money in your bank account to buy them, for example. Anxiety is harder to pin down. "Financial anxiety doesn't have that external effect. It's just this looming feeling," McCoy says. "It's an ambiguous fear that something is going to go wrong or you're not doing good enough or you're not going to have enough in the future." If those sorts of feelings have you tossing and turning at night, experts recommend taking the following steps. While it's possible for people in any financial situation to experience anxiety about their money, having good financial health certainly helps, experts say. After all, someone with no debt and ample retirement savings has a much less uncertain future than someone with escalating credit card bills and no savings. To alleviate financial stressors, the No. 1 thing to focus on is your emergency savings, says Niki Glen, a certified financial planner and wealth management advisor at Northwest Mutual. "You should generally have three to six months' worth of expenses in cash or cash equivalents in an emergency fund, and I'm actually suggesting a little bit more these days," she says. The more anxious you're feeling, the more you should prioritize building up a cash cushion that you can put to work in the event of an unforeseen expense. "If you have any big expenses coming up — big vacations, a new car, major home projects — I would suggest delaying those. That money can be more valuable for you as a financial buffer," Glen says. You may have much of your financial house in order, but still find yourself wringing your hands over money. Rather than feeling guilty about it, schedule weekly or even daily "worry time," where you spend 15 or 20 minutes focusing only on your financial concerns. Write down everything you're anxious about, says McCoy. Divide your concerns into two camps: things you can change and things that are out of your control. "This process helps transform vague, persistent worry into two buckets: action and acceptance," McCoy says. Focus on making steady progress on the things you can control, like paying down debt or saving toward goals such as a home down payment or your kid's college fund. Rather than looking at these goals as a whole, think of them as small parts of your daily routine. "For instance, instead of, 'I want to build a $10,000 emergency fund, try: 'After I make my coffee, I'll transfer $5 into savings,'" McCoy suggests. Of course, some things in the world of finance will always be out of your control, like the direction of the stock market or U.S. trade policy. "Finding a way to do these tangible things that you do have power over will alleviate some of the stress you have about the things you can't control," McCoy says.
Time of India
10-07-2025
- Business
- Time of India
Degrees of risk: These college majors are most likely to leave you jobless in America
College majors that can lead to unemployment College degrees have long been marketed as a safeguard against unemployment, a steady ladder toward success. But new data from the Federal Reserve Bank of New York, based on 2023 US Census data, paints a more sobering picture: some of the most respected and high-paying majors are producing some of the highest unemployment rates among recent graduates aged 22 to 27. This challenges the traditional notion that fields like engineering, science, and public policy are the most reliable paths to stable careers. In reality, a deeper look at the numbers reveals that even tech-oriented and science-heavy degrees are not immune to joblessness, despite their median earning potential. Majors with the highest unemployment rates in the US The following table illustrates the undergraduate majors with the highest unemployment rates, along with early-career earnings and the percentage of graduates who go on to earn advanced degrees. Major Unemployment Rate Median Early-Career Earnings % with Graduate Degree Anthropology 9.4% $42,000 46.7% Physics 7.8% $70,000 67.9% Computer Engineering 7.5% $80,000 40.0% Commercial Art & Graphic Design 7.2% $48,000 11.3% Fine Arts 7.0% $42,500 22.6% Sociology 6.7% $45,000 39.7% Computer Science 6.1% $80,000 32.8% Chemistry 6.1% $55,000 65.5% Information Systems & Management 5.6% $65,000 25.7% Public Policy & Law 5.5% $50,000 45.0% Source: Federal Reserve Bank of New York, The Labor Market for Recent College Graduates , February 2025 Note: Early-career defined as ages 22 to 27 Degrees that sound secure, but aren't The revelation that computer engineering and computer science both appear on this list may seem counterintuitive. Both offer top-tier early-career salaries of $80,000, but their unemployment rates—7.5% and 6.1%, respectively—outpace the national average for recent grads (3.6%). The same trend holds for physics, a traditionally prestigious and rigorous discipline, where the unemployment rate stands at 7.8%. This indicates a growing misalignment between what students are trained for and what the job market currently demands. Having a technical degree may no longer be enough. Oversaturation, evolving industry demands, and automation have begun to erode the employment certainty once associated with these majors. The broader landscape To understand where these high-risk majors stand within the overall picture, consider the broader dataset on unemployment rates and early-career salaries across all fields. This comprehensive snapshot offers insight into which majors are truly outperforming others in both job placement and salary terms. Unemployment rates and earnings for college majors in the US The unemployment rates of the major college degrees in the US have been provided here: Major Unemployment Rate Median Early-Career Earnings % with Graduate Degree All Majors (Average) 3.6% $55,000 39.1% Accounting 1.9% $60,000 32.9% Advertising & Public Relations 3.5% $58,000 20.7% Aerospace Engineering 1.4% $76,000 51.5% Agriculture 1.2% $50,000 19.9% Animal & Plant Sciences 1.0% $43,000 35.6% Anthropology 9.4% $42,000 46.7% Architecture 4.3% $52,000 40.8% Art History 3.0% $45,000 47.9% Biochemistry 3.3% $52,000 70.8% Biology 3.0% $47,000 63.4% Business Analytics 2.4% $70,000 25.6% Business Management 4.0% $55,000 25.3% Chemical Engineering 2.0% $80,000 47.8% Chemistry 6.1% $55,000 65.5% Civil Engineering 1.0% $71,000 39.9% Commercial Art & Graphic Design 7.2% $48,000 11.3% Communications 4.5% $52,000 23.5% Computer Engineering 7.5% $80,000 40.0% Computer Science 6.1% $80,000 32.8% Source: Federal Reserve Bank of New York, The Labor Market for Recent College Graduates , February 2025 Note: Early-career defined as ages 22 to 27 Rethinking the ROI of College Majors This data is not a condemnation of these majors, it is a recalibration. Students, families, and policymakers must consider more than the prestige or salary projections of a degree. The value of a college education increasingly lies in job market adaptability, not just intellectual rigour or theoretical appeal. While liberal arts fields like anthropology, sociology, and fine arts have long been viewed as risky, the inclusion of computer science, chemistry, and public policy suggests that no major is immune from employment volatility. In today's economy, choosing a college major is not just about what you love or what pays well; it's about what works. Final Thought The post-college job landscape is more complex than ever. Success is no longer solely determined by what field you study, but by how well that field maps onto the real-world labour market. As the data shows, some of the most popular or academically demanding majors are producing the least stable job outcomes. In 2025, making informed choices means looking beyond the classroom, and into the economy that awaits. Ready to navigate global policies? Secure your overseas future. Get expert guidance now!
